Chemical Bank increased its stake in shares of Nucor Corporation (NYSE:NUE) by 6.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,487 shares of the basic materials company’s stock after acquiring an additional 450 shares during the period. Chemical Bank’s holdings in Nucor Corporation were worth $433,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Achmea Investment Management B.V. acquired a new position in shares of Nucor Corporation during the 1st quarter valued at about $4,047,000. Jennison Associates LLC increased its holdings in shares of Nucor Corporation by 1.4% during the 2nd quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock valued at $413,000 after acquiring an additional 99 shares during the last quarter. Main Street Research LLC increased its holdings in shares of Nucor Corporation by 1.4% during the 1st quarter. Main Street Research LLC now owns 184,720 shares of the basic materials company’s stock valued at $11,031,000 after acquiring an additional 2,489 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Nucor Corporation by 8.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock valued at $2,676,000 after acquiring an additional 3,792 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Nucor Corporation by 3.1% during the 2nd quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock valued at $67,335,000 after acquiring an additional 35,100 shares during the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.
NUE has been the topic of a number of analyst reports. Credit Suisse Group raised Nucor Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $56.00 to $68.00 in a report on Wednesday, May 24th. BidaskClub raised Nucor Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. ValuEngine lowered Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Longbow Research raised Nucor Corporation from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. Finally, KeyCorp reissued an “overweight” rating and set a $66.00 price objective (down previously from $72.00) on shares of Nucor Corporation in a report on Monday, June 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $68.47.
Shares of Nucor Corporation (NYSE:NUE) opened at 53.50 on Friday. The firm has a 50 day moving average price of $55.44 and a 200-day moving average price of $58.47. The company has a market cap of $17.09 billion, a P/E ratio of 15.02 and a beta of 1.53. Nucor Corporation has a 12 month low of $45.30 and a 12 month high of $68.00.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.06). The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. Nucor Corporation’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS. Analysts anticipate that Nucor Corporation will post $4.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Thursday, September 28th. Nucor Corporation’s dividend payout ratio (DPR) is presently 43.77%.
In other Nucor Corporation news, Chairman John J. Ferriola sold 14,941 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $60.17, for a total transaction of $898,999.97. Following the transaction, the chairman now owns 361,847 shares of the company’s stock, valued at $21,772,333.99. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total value of $156,431.42. Following the transaction, the insider now directly owns 62,434 shares in the company, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,104 shares of company stock worth $1,213,595. Company insiders own 0.70% of the company’s stock.
Nucor Corporation Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUE).
Receive News & Ratings for Nucor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corporation and related companies with MarketBeat.com's FREE daily email newsletter.